Gate (GT) is the 86th largest cryptocurrency by market cap, valued at US$1,245,188,901.
Gate is a highly volatile asset capable of major price swings in a single day. Today GT is trading for $9.72 USD, which is lower than yesterday's trading price of $10.01 USD. Over the past year, Gate's price has seen an increase of 133%.
So before you buy Gate, make sure you understand these unique risks as well as its legal and tax status here in
Australia.
If you're ready to get started, read on for step-by-step instructions on how you can use to buy Gate.
This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade or use any services.
How to buy Gate in 5 steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
Compare crypto exchanges
The easiest way to buy Gate is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
Create an account
To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
Make a deposit
Once verified, you can deposit AUD using the payment method that best suits you – cryptocurrency, bank and card payments are widely accepted.
Buy Gate
You can now exchange your funds for Gate. On beginner-friendly exchanges, this is as simple as entering the AUD or GT amount you want to purchase and clicking "buy".
Secure your Gate
Consider transferring your GT to a personal crypto wallet to protect against some of the risks of keeping it on an exchange, such as hacks, scams or platform bankruptcy.
Where to buy Gate in
Australia
Find an exchange to buy, sell and trade GT by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the exchange.
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How we keep this Gate guide up-to-date
GT price data is regularly updated through data feeds so you always have the latest information.
What is Gate?
GateChain is a decentralized finance (DeFi) platform that has been designed by prominent digital asset exchange, Gate.io. The project serves as a one-stop shop for all of one's DeFi needs thanks to an ecosystem boasting of a stablecoin offering (USDG), Decentralized Exchange (DEX), loan issuance system, and liquidity mining protocol. In this regard, GT is the native crypto of the platform. According to CoinGecko, it is designed to facilitate a whole host of important transactions taking place within the GateChain ecosystem – such as liquidity mining rewards, voting, etc. – and is also used as collateral for the aforementioned USDG stablecoin.
How do I find the best places to buy Gate?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in
Australia to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Gate?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Gate.
This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing GT with your local currency then you will need to pass KYC.
Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
What are the best ways to buy Gate?
Once you've created an account, you will need to deposit funds to buy GT with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are some popular ways to buy GT:
Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
Cryptocurrency: You can usually purchase GT by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for GT on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Gate?
The easiest way to buy GT is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying GT, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our all-time high tool to get an idea of how the price of Gate has been performing recently.
Best Gate wallets to store your GT
You can keep your GT on the exchange you purchased it on, or move it to a personal wallet:
Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can take a look at some of our top hardware wallet picks for self-custody of your GT below.
Disclaimer: This is not an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.
Is Gate a good investment?
Some of GateChain's core selling points include:
Fund security: The platform features a highly innovative crypto storage solution called 'Vault Account' that is designed to seamlessly retrieve one's funds in case they are ever stolen by a third party. Its underlying framework consists of a 'fault-tolerant mechanism' that not only maximizes asset privacy, but also guarantees 100% financial coverage at all times.
Operationally sound mechanics: The DEX powering GateChain provides a high level of transparency and decentralization while offering a relatively good transaction throughput (2000+TPS) rate. Not only that, it also features a fast block confirmation time of approx. 4 seconds.
Solid design: GateChain utilizes a 'Decentralized Governance' module wherein every GT holder is given the chance to participate and vote on various proposals relating to the administration of the platform. Furthermore, GateChain is designed to be future-ready, such that it is compatible with a number of other public chains such as Bitcoin, Cosmos, and Polkadot.
Solid backing: Gate.io is helmed by a number of trusted industry experts including CEO Lin Han and CMO Marie Tatibouet. It also bears mentioning that, as per several reports, the exchange was able to raise a whopping $64 million as part of its seed funding efforts back in early 2019.
Today's Gate price versus ATH
Compare today's price of Gate ($9.72 USD) against its all-time-high price of $12.94 USD on 12 May 2021. The closer the bar is to 100%, the closer GT is to reaching its ATH again.
Gate's price: $9.72 USD ATH date: May 12, 2021
75.12%
Gate ATH: $12.94 USD
How to trade, convert or sell Gate
You can convert or sell your GT with the same exchange you bought it through:
Disclaimer: Cryptocurrencies, including Gate, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of GT is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Gate or any other cryptocurrency discussed.
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